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LMAX = revolution?!?

  • #181
  • Oct 10, 2011 7:49am Oct 10, 2011 7:49am
Quoting duxis
http://www.lmaxtrader.co.uk/partners...ducing-brokers

Metatrader4 "coming soon", so any third party bridge will be useless.
I see. So they are indeed buying a license. Will be interesting if they choose to go with MT5 or MT4.
  • #182
  • Oct 10, 2011 9:27am Oct 10, 2011 9:27am
I always pop in to check this thread because LMAX need our support and more importantly, our custom.

I must have used 15-20 brokers/buckets and ECN's in my time on numerous platforms and LMAX are at the top when it comes to execution, absolutely rapid even on large fills.

If you don't like the charting just signup to another service, you can easily get 'free' MT4 charts by using a demo or depositing a very small fee in to another broker's account - you don't have to trade it.

The amount of complaints I see against other brokers and people complaining about slippage etc brings me back here to sing LMAX's praises - they are excellent, very liquid, very fast and consistent with it which is not something many retail traders get to see!
"I made all my money by selling too soon"
  • #183
  • Oct 10, 2011 10:17am Oct 10, 2011 10:17am
Quoting Bleek
I always pop in to check this thread because LMAX need our support and more importantly, our custom.

I must have used 15-20 brokers/buckets and ECN's in my time on numerous platforms and LMAX are at the top when it comes to execution, absolutely rapid even on large fills.

If you don't like the charting just signup to another service, you can easily get 'free' MT4 charts by using a demo or depositing a very small fee in to another broker's account - you don't have to trade it.

The amount of complaints I see against other brokers and people complaining...


Othere brokers are market makers not a real broker like Lmax is...

Does Lmax has a forum for users ?
  • #184
  • Oct 10, 2011 11:24am Oct 10, 2011 11:24am
Quoting Cocoflanel
Othere brokers are market makers not a real broker like Lmax is...

Does Lmax has a forum for users ?
And if they don't get support they'll fade away and we'll be left with many mediocre alternatives.

It does have a forum but I don't use it so can't comment on how busy it is.
"I made all my money by selling too soon"
  • #185
  • Oct 10, 2011 11:25am Oct 10, 2011 11:25am
Quoting Bleek
And if they don't get support they'll fade away and we'll be left with many mediocre alternatives.

It does have a forum but I don't use it so can't comment on how busy it is.
do you have a link ?
  • #186
  • Oct 10, 2011 12:14pm Oct 10, 2011 12:14pm
http://community.lmaxtrader.com/trade-talk
  • #187
  • Oct 10, 2011 1:42pm Oct 10, 2011 1:42pm
Glad to see folk still supporting this company.
  • #188
  • Oct 10, 2011 3:47pm Oct 10, 2011 3:47pm
Yes, i must admit I'm surprised they haven't become massive, as in my book they're miles better than the bucket shops I've been with, and you get the speed and reliability of execution that would normally require a massive account, and they're only going to improve as well.

I think they've been let down in their marketing, but maybe that will change now it seems they're getting they're act together in this area with the use of introducing brokers, multicharts and mt4.

Glad to see there are like-minded traders out there that agree!
There is no top. There are always further heights to reach. Jascha Heifetz
  • #189
  • Oct 10, 2011 5:07pm Oct 10, 2011 5:07pm
Average spread information - http://www.lmaxtrader.co.uk/average-spreads

Extremely competitive, dare I say market leading?
"I made all my money by selling too soon"
  • #190
  • Oct 10, 2011 10:26pm Oct 10, 2011 10:26pm
I suggested a number of things to them when I opened my account a couple of months after they started, including offering MT4 themselves. The suggestions were welcomed but none implemented. It's the same with CMC. They come up with their own platform which they believe is wonderful. They have never stopped to think about what traders might actually want and never asked. It's basic business common sense. Millions are spent without any discussion with potential clients.

The inability to size windows, no remembering lot size, hopeless stop/limit/take profit order placement, dreadful charts and finally and most importantly has anyone ever run off a report of your trades? Try explaining that to your accountant or taxman! It is all in different currencies so there is no way of telling what the gain/loss is overall. I told them about this and they have done nothing about it from what I can tell.

You can't knock the spread or speed of execution though - brilliant!

Frankly, unless LMAX offer their own MT platform I don't see them surviving. Interesting to note that the chairman went.

I hope they do get things sorted, if they offered MT4 from the start they would have cleaned up......duh!
  • #191
  • Oct 10, 2011 11:05pm Oct 10, 2011 11:05pm
Quoting 4FXsake
I suggested a number of things to them when I opened my account a couple of months after they started, including offering MT4 themselves. The suggestions were welcomed but none implemented. It's the same with CMC. They come up with their own platform which they believe is wonderful. They have never stopped to think about what traders might actually want and never asked. It's basic business common sense. Millions are spent without any discussion with potential clients.

The inability to size windows, no remembering lot size, hopeless stop/limit/take...
That's ridiculous.
MT4/5 is the tool for the bucketshops.
  • #192
  • Oct 11, 2011 2:10am Oct 11, 2011 2:10am
Quoting ptarmigan
That's ridiculous.
MT4/5 is the tool for the bucketshops.
I agree to a certain degree.

I've never understood why people wan to use MT4. Is it because of the EA's that automate your trading? Yeah because robots are known to make you money... !

I would MUCH prefer a bespoke platform specific to the broker, no bright lights or bullshit, just clean and concise doing the job you ask of it. For me that's what LMAX has, yes it needs tweaking, as a minimum it needs to remember your preferred stop and lot size.

The charts whilst simple do exactly what I need of the, but then I use naked charts, people who are indicator believers will not like the limited functions.

For me the positives for me far outweigh the negatives, they bring 'Currenex' standards of spread, execution and liquidity to people that couldn't otherwise afford it.
"I made all my money by selling too soon"
  • #193
  • Oct 11, 2011 2:14am Oct 11, 2011 2:14am
Quoting 4FXsake
The inability to size windows, no remembering lot size, hopeless stop/limit/take profit order placement, dreadful charts and finally and most importantly has anyone ever run off a report of your trades? Try explaining that to your accountant or taxman! It is all in different currencies so there is no way of telling what the gain/loss is overall. I told them about this and they have done nothing about it from what I can tell.
I can resize windows in Chrome and Firefox (I don't use IE), the stop and limit order placement works perfectly for me - I don't understand why you're having a problem with it?

There are two methods of extracting accounting information and each method returns a different level of results. The extract I gleam from the accounts menu shows me daily profit and loss figures.
"I made all my money by selling too soon"
  • #194
  • Oct 11, 2011 3:14am Oct 11, 2011 3:14am
Quoting ptarmigan
That's ridiculous.
MT4/5 is the tool for the bucketshops.
MT4/5 is the tool for some bucketshops. Who do you use then?
  • #195
  • Oct 11, 2011 3:20am Oct 11, 2011 3:20am
Quoting Bleek
I can resize windows in Chrome and Firefox (I don't use IE), the stop and limit order placement works perfectly for me - I don't understand why you're having a problem with it?

There are two methods of extracting accounting information and each method returns a different level of results. The extract I gleam from the accounts menu shows me daily profit and loss figures.
Bleek,

What I meant was you cannot resize quick tickets which I find irritating. If they could be popped out then that would be great. I agree the stop order etc works but it's just I fiddly.

I just ran off my statement again going to Order History and then downloading the excel spreadsheet. Is this what you are doing? Thanks
  • #196
  • Oct 11, 2011 3:52am Oct 11, 2011 3:52am
Does anyone know, if the spread will widen with MT4 or Multichats?

I really am looking forward to MC
I found a penny today. That's +100 pips for me.
  • #197
  • Oct 11, 2011 4:08am Oct 11, 2011 4:08am
Quoting 4FXsake
Bleek,

What I meant was you cannot resize quick tickets which I find irritating. If they could be popped out then that would be great. I agree the stop order etc works but it's just I fiddly.

I just ran off my statement again going to Order History and then downloading the excel spreadsheet. Is this what you are doing? Thanks

Try using - My Account > Account Transactions > Download History.

That's the one I use, it's a more accounting friendly data set than the Order History.

I have several large screens so never needed to resize the quick ticket, that'll be why I've never seen it as an issue, I can appreciate things might get a little cramped on smaller screens.
"I made all my money by selling too soon"
  • #198
  • Oct 11, 2011 4:18am Oct 11, 2011 4:18am
Quoting Bleek
Try using - My Account > Account Transactions > Download History.

That's the one I use, it's a more accounting friendly data set than the Order History.

I have several large screens so never needed to resize the quick ticket, that'll be why I've never seen it as an issue, I can appreciate things might get a little cramped on smaller screens.

Yup, done that but the profit/loss is shown in different currencies. When doing your tax return how are you showing your CGT calculations?
  • #199
  • Oct 11, 2011 4:40am Oct 11, 2011 4:40am
Quoting 4FXsake
Yup, done that but the profit/loss is shown in different currencies. When doing your tax return how are you showing your CGT calculations?
There's a swap/sweep the next day where it converts your trades back in to your account currency. That's the figure that shows the gross P/L, the others can be ignore in your P/L calculations.

I run a trading company so it's a ltd (UK), after explaining the process to my accountants they are happy with statements.
"I made all my money by selling too soon"
  • #200
  • Oct 11, 2011 4:45am Oct 11, 2011 4:45am
Quoting Bleek
There's a swap/sweep the next day where it converts your trades back in to your account currency. That's the figure that shows the gross P/L, the others can be ignore in your P/L calculations.

I run a trading company so it's a ltd (UK), after explaining the process to my accountants they are happy with statements.

Thanks very much! I really appreciate your help!
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